Does FXCM charge an inactivity fee as of October 2023?
Yes, FXCM charges an inactivity fee.
Inactivity fee conditions at FXCM are the following: $50 per year after one year of inactivity.
The inactivity fee charged by FXCM is considered low, so if you otherwise find its fees and services attractive, it shouldn't alone deter you from opening an account.
|💰 FXCM inactivity fee||Yes|
|💰 FXCM withdrawal fee||$0|
|💰 FXCM minimum deposit||$50|
|📃 FXCM deposit methods||Bank transfer, Credit/debit cards, Neteller, Skrill, Unionpay|
|🗺️ Country of regulation||UK, Australia, South Africa and Cyprus|
|🎮 FXCM demo account provided||Yes|
Data updated on October 10, 2023
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What is inactivity fee and when is it charged?
I've thoroughly tested FXCM services with our analyst team by opening a real-money account and these are my most important findings:
- The inactivity fee is an important non-trading fee for long-term investors
- Brokers usually charge an inactivity fee if you fail to use your account for a longer period
- FXCM charges an inactivity fee
Brokerage fees come in many forms. Some of them you're probably aware of, but others are less obvious and can hurt your investment results if you don't pay attention to them. Inactivity fees are among those fee items that can serve up an unpleasant surprise to the casual long-term investor.
What is an inactivity fee? At some brokers, you have to pay an inactivity fee if you don't use your account for trading or other transactions for a longer period (usually one year or more). Once it kicks in, you have to pay it regularly until you start trading again. Exact terms - such as what counts as an activity - differ from broker to broker, so check them carefully.
To read more about possible expenses you may face as a long-term investor, check out our summary of the most common brokerage fees.
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